“Development seems to be where the action is,” said HSA Commercial Real Estate CEO Robert Smietana during the “Trends and Forecasts from Industrial Industry Leaders” panel at the recent Connect Industrial Midwest. And, with the Chicago region being home to some $13 billion worth of industrial product that’s now half a century old, there’s plenty of development opportunity.
And development means looking to the future rather than the past, noted Logistics Property Company CEO Jim Martell. Take clear heights, for instance—they’re now as high as 55 feet, he pointed out. Meanwhile, older buildings can be adapted to last-touch delivery applications.